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A dilemma that I am sure many people would want~
In 1996, when I was single, I bought my first apartment on the UWS.
My girlfriend (Now my wife) moved in with me in 2000 and the neighbors in the apartment below us, both passed away within 6 months of each other. We realized that we had the opportunity of a lifetime to purchase the two bedroom unit and combine both apartments.
The project was not cheap, but we know have a lovely duplex on the Upper West Side.
As I look back now, we were lucky. There is no way right now that we could afford to buy the same sized unit, with what we earn per year.
If we were to sell our apartment and move downtown, to a new development or a comparable apartment, we would easily get 30% less space for the same price of our Upper West Side apartment.
So what would we do if we needed more room or wanted to liquidate our investment (Our Home) without downsizing or opting for a rental?
One choice would be to move to Westchester……the market there has not caught up with Manhattan prices, so it would be a win win for us. Sell in today’s market in NYC, where inventory is at its lowest level in years and move to a town in Westchester with great schools and be able to get a lot of square feet at a lower per square foot price.
I would like to invite you to a great event this Wednesday at the JCC on the Upper West Side, starting at 6:30pm:
There will be several real estate agents speaking about moving to “The Burbs” full time or
second home ownership in Westchester or The Hamptons, including myself.
There will be top agents from many of the towns in Westchester where New Yorkers tend to consider buying a home.
Just a few of the towns featured will be Scarsdale, Chappaqua, Armonk, Bedford, Rye, Larchmont. They will offer helpful information about their communities like commute times, average home prices, real estate taxes, schools and lots more. I am finding that many New Yorkers are also buying in the Hamptons as full or part-time residences.
A top broker from the Hamptons will also be there offering information on their different communities as well.
Please email me to register: pzweben@elliman.com
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The Zweben Team is a team of licensed real estate salespersons affiliated with Compass. Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. New York State Fair Housing. New York Real Estate Standard Operating Procedures.
